S.Sudan pound rises after Qatari bank import deal
September 6, 2012 19:34
JUBA - South Sudan's currency has risen against the dollar on the key black market, its first gain since January after the government reached a deal with a Qatari bank to provide dollars needed for imports, dealers and officials said on Thursday.
The South Sudanese pound (SSP) has lost sagged against the dollar since the government shut down its oil production in January in a row with Sudan over export fees.
Oil contributed 98 percent of state revenues and was practically its only source of foreign currency. One of the world's least developed countries, South Sudan needs to import almost everything from food to consumer goods.